Loopring GitHub suggests GameStop has bigger plans for the crypto and NFTs. A partnership is in the offing with GameStop for an NFT marketplace. Sources confirm that Loopring has been hard at work to prepare for the team’s anticipated Q4 2021 launch, and has pushed new code to its GitHub repository labeled “NFT feature”. Sounds sketchy and yet, people are confirming with their buying frenzy.
Loopring price today is $0.531759 with a 24-hour trading volume of $324,899,326. LRC price is down -4.5% in the last 24 hours. It has a circulating supply of 1.2 Billion LRC coins and a total supply of 1.37 Billion. The cryptocurrency showed highly volatile behavior from October 27, when it dipped sharply, followed by a steep jump towards $0.539. Now Loopring is retracing back and may test the support present at $0.499 if the descend continues.
The Loopring price analysis suggests the coin is retracing after hitting $0.540 yesterday, even swinging as high as $0.607 at one point. The Loopring continues to find support as the descend is also as rapid as the rise was. If support at $0.499 proves strong, the coin will likely trade near $0.500, but if the support falters, the coin will fall back to $0.451.
What is Loopring?
Loopring is just a decentralized exchange technology that is available to everybody. Loopring is a public collection of smart contracts for transactions and payments managed by an off-chain group of players.
The protocol is open-source, adaptable, and functions as a conventional basic foundation for decentralized apps (dApps) with trading capabilities. Its extensible standards allow for anonymous, trustless transactions.
Source: Loopring website
The ability to integrate multiple orders with different orders, eliminating the limits of two-token trading pairings and substantially enhancing liquidity, is significant over existing decentralized exchange protocols.
Loopring also offers a unique and powerful method to avoid front-running, which is the illegal effort to submit payments into a block before the primary solution provider. Loopring is blockchain cynic, meaning it may be used on any blockchain that supports smart contracts.
Loopring (LRC) wallet
Loopring wallet is a mobile ETH smart contract wallet that includes Loopring zkRollup. This wallet is the first Layer 2 scaling smart wallet software, and it puts a safe, easy, and robust Ethereum experience in your hand. Swap on the AMM, join an LP, deal on the books, invest and receive in DeFi, and make payments to anybody, wherever – all without using any gas fee and at the touch of a button.
It’s wholly self-contained yet smarter. Seed phrases and paper copies may fade away, and social restoration can take their place. This entails entrusting your wallet to people, organizations, and hardware you can trust. They assist you in recovering your possessions if you lose access to a device.
Your possessions are safe as long as more than half of your guardians are trustworthy. You may also establish daily transfer capability and add reliable addresses to a whitelist.
Why should you use Loopring (LRC)?
Safety
Loopring is a non-custodial, accessible, and verifiable exchange and payment system. No one from the Loopring platform has to rely on anybody else. zkRollup ensures that assets are always in the hands of the users; 100% Eth-level security is guaranteed.
Source: Safezone
Scalability
Loopring enables extremely scalable decentralized exchanges and transactions by batch-processing thousands of applications off-chain, with ZKPs ensuring that they are executed correctly. Ethereum’s efficiency is no longer a hurdle.
Source: Loopring
Low prices
The Ethereum blockchain is used for the majority of Loopring’s activities, particularly trade and transfer settlement. This cuts gas fee use and total transaction costs to a fraction of what they would be on-chain.
Source: BoldContent
Price history of Loopring
Based on historical data, the Loopring token LRC suffered a significant knock in 2018. Prices fell in April after reaching an all-time high of $2.19 on January 9, 2018, decreasing until 2018 and 2019.
Source: CoinMarketCap
By early 2020, the coin price had dropped to $0.0225, just under the all-time high of $0.019861 set on December 18, 2018. However, following the DEX’s Beta debut, values started to rise significantly, and the LRC coin traded for $0.087895 at the start of June 2020, up almost 300 percent during the first half of 2020.
Support and resistance levels for Loopring (LRC)
The chart shown depicts Loopring’s support and resistance levels.
Source: Trading View
The below are the resistance and support levels of Loopring(LRC), as seen in the chart above.
• Level 1 of Resistance – $0.28
• Level 2 of Resistance – $0.41
• 3rd Level of Resistance–$0.84
• Level 1 of Support – $0.17
• Level 2 of Support – $0.12
• Level 3 of Support – $0.07
LRC’s negative performance during the preceding month is seen in the chart. If the trend were to reverse, LRC might fall below $0.07, indicating a bearish indication. This movement, however, will shortly meet the resistance level of $0.84.
Price prediction for Loopring
Source: SimpleSwap
Loopring Price prediction in 2021
According to our in-depth technical review of historical LRC price data, the price of Loopring is expected to reach a low of $0.40 in 2021. With an average selling price of $0.42, the LRC price may reach a high of $0.54. Overall technical indicators for Loopring are highly bullish as the price went high beyond expectations yesterday.
Out of a total of 26 technical indicators, 16 indicators show buy signals, and only one technical indicator shows a sell signal. However, nine technical indicators stand neutral and do not favor any side of the market
- The Loopring price today is $0.54.
- Market Cap: LRC Market cap is $646,720,373.
Price Forecast for Loopring (LRC) in November 2021: The Loopring price is forecasted to reach $0.6844038 by the beginning of November 2021. The expected maximum price is $0.8555047, the minimum price is $0.5817432. The Loopring price prediction for the end of the month is $0.6844038
Price Prediction for Loopring in December 2021: The Loopring price is forecasted to reach $0.6856469 by the beginning of December 2021. The expected maximum price is $0.8570586, the minimum price is $0.5827998. The Loopring price prediction for the end of the month is $0.6856469.
Loopring price prediction in 2022
In 2022, the pricing of Loopring is expected to reach a minimum of $0.59. By 2022, the Loopring price might hit a high of $0.71, with an average selling price of $0.60.
Loopring price predictions in 2023 – 2024
According to price forecasts and technical analysis, the value of Loopring is expected to reach a minimum of $0.90 in 2023. With an average selling price of $0.92, the LRC price may reach a high of $1.03.
In 2024, the price of one Loopring is predicted to drop to a minimum of $1.28. In 2024, the LRC price might reach a high of $1.52, with an average of $1.32.
Loopring price prediction in 2025
In 2025, the price of Loopring is expected to drop to as low as $1.90. According to our research, the LRC price rise might reach a high of $2.20, with an average expected price of $1.96.
Loopring (LRC)price prediction for 2026
Based on technical analysis and fundamental analysis of LRC market prices, LRC’s price is forecasted to be about $2.67 in 2026. With a predicted mean trading price of $2.77 in USD, the Loopring price may hit a high of $3.24.
Loopring (LRC)price prediction for 2027
The value of Loopring is anticipated to hit a low of $3.85 in 2027. In 2027, the LRC price might hit a maximum of $4.69, With a predicted mean trading price of $3.98.
Loopring price prediction for 2028
Based on technical and fundamental analysis of LRC market prices, the LRC price is predicted to reach a minimal cost of $5.69 in 2028. The LRC price could go up to $6.48 at its highest point, with a mean of $5.85.
Loopring price prediction for 2029
By 2029, the cost of Loopring is predicted to hit a low of $8.18. In 2029, the LRC value might hit a high of $9.96, with a mean value of $8.41.
Loopring price prediction for 2030
By 2030, the LRC price is predicted to hit its lowest point of $11.65. Based on our research, the LRC price could reach a high of $14.21, with a mean expected price of $11.99.
Where to buy LRC
If you are looking to buy or sell Loopring, Coinbase Exchange is currently the most active exchange. You can also Loopring (LRC) cryptocurrency with a credit card, debit card, or Bitcoin (BTC) at the following exchanges:
- Binance – This exchange is best for Australia, Canada, Singapore, UK & international users. USA residents are prohibited from purchasing LRC
- Gate.io – This exchange currently accepts USA residents.
- KuCoin – This exchange currently accepts USA residents.
- WazirX (India only). USA residents are prohibited.
Conclusion
If you want to invest in this project, I could see it stabilizing sometime in the future, but it will need to be a long hold. Liquidity/users moving to L2 will not happen overnight; it will be a lengthy onboarding and education process.
Another reason is that Loopring still has many upcoming things before they go full tilt into gaining users. For example, the new DEX UI was out last June, which could affect this current uptrend.
The following LRC price estimates are designed to refer to possible price development and not as financial advice. However, no one can predict cryptocurrency values with 100 percent accuracy.
FAQs
Is there a finite number of tokens in the Loopring system?
Currently, there is a 1.23 billion circulating supply of Loopring tokens, with a total supply of 1,374,513,896 LRC.
What are the risks and rewards of investing in LRC?
Given the LRC, as mentioned earlier, price forecasts, Loopring is a fantastic investment. Because of Loopring’s bright long-term prospects, investing for the long haul will pay off handsomely.
How high will the price of Loopring go?
The coin is expected to reach a maximum price of $0.5 by the end of 2021, based on current price predictions.
Is it a good idea to buy Loopring?
Due to scarcity, the value of Loopring is expected to rise in the future. Every investment has some level of risk. Conversely, before making any investment decisions, ensure you do your research.
How high will Loopring be able to go?
By the end of the year, the future price of Loopring (LRC) might be $0.42. Over the next five years, the coin is likely to reach a value of $3.00.
How much is Loopring likely to be worth in 2030?
Loopring’s price has the potential to rise to unprecedented heights in the cryptocurrency market. LRC’s value is likely to grow in the future. According to industry experts and financial analysts, the price of Loopring might hit $14.21 by 2030.